15 affordable suburbs ripe for growth in new data
New research has found 15 locations across Australia where buyers could find growth of over $100,000 in three years’ time.
The research, which was performed by Sell or Hold, located the top and bottom 15 affordable suburbs for growth forecast and buying and selling costs for suburbs with median house prices between $400,000 and $600,000 in significant urban areas.
According to Jeremy Sheppard, head of research at Sell or Hold, low growth was predicted for Darwin and Perth locations, and claimed that investors could find more profitable locations elsewhere.
“The research showed that vainly holding on to properties in some of these locations could see your property wealth erode every year,” Mr Sheppard said.
“Savvy investors recognise that, even after transactional costs, they could potentially be better off by tens of thousands of dollars in a handful of years by simply literally cutting their losses.”
The data found the Canberra-Queanbeyan region ranking in first and second with Charnwood and Karabar, respectively.
“The Canberra-Queanbeyan region has taken out the first and second places for forecast price growth, partly due to affordable house prices close to our nation’s capital,” Mr Sheppard said.
“Both Charnwood and Karabar are near Canberra, which means housing is in strong demand from public servants.”
The research head claimed that investors who sell out of underperforming markets and purchase property in Charnwood or Karabar could see profits of $120,000 in three years’ time.
In third was Bilambil Heights, located within the Gold Coast - Tweed Heads region, which offers property close to Surfers Paradise, affordable property and access to employment hotspots and can offer investors just over $100,000 over three years, and fourth was the relatively nearby Underwood in the Logan area.
Taking out the fifth place was Hobart’s Geilston Bay, which could offer investors nearly $100,000 over three years.
“Hobart has three of the top 15 results, which shows that there is growth still remaining in the Apple Isle capital,” Mr Sheppard said.
“If its name didn’t give it away, the appeal of Geilston Bay is partly due to its desirable location on the Derwent River while also only being seven kilometres from Hobart.”
The areas that have the highest growth forecast over a three-year period, according to Sell or Hold, are:
State
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|
Significant urban area |
Locality |
Median house price |
Better off in three years |
ACT |
Canberra - Queanbeyan |
Charnwood |
$439,483 |
$123,520 |
NSW |
Canberra - Queanbeyan |
Karabar |
$525,599 |
$122,546 |
NSW |
Gold Coast - Tweed |
Bilambil Heights |
$559,164 |
$105,787 |
QLD |
Brisbane |
Underwood |
$538,244 |
$97,727 |
TAS |
Hobart |
Geilston Bay |
$475,613 |
$88,949 |
VIC |
Ballarat |
Miners Rest |
$400,425 |
$79,644 |
SA |
Adelaide |
St Marys |
$477,602 |
$78,955 |
TAS |
Hobart |
Austins Ferry |
$404,453 |
$72,635 |
SA |
Adelaide |
Birkenhead |
$418,158 |
$71,945 |
SA |
Adelaide |
Largs North |
$428,047 |
$64,039 |
QLD |
Sunshine Coast |
Kuluin |
$509,258 |
$62,817 |
NSW |
Newcastle - Maitland |
Largs |
$555,042 |
$60,986 |
SA |
Adelaide |
Croydon Park |
$468,535 |
$58,470 |
TAS |
Hobart |
Old Beach |
$448,259 |
$50,958 |
NSW |
Newcastle - Maitland |
Tenambit |
$442,552 |
$50,089 |
The areas that have the lowest growth forecast over a three-year period, according to Sell or Hold, are:
State |
Significant urban area |
Locality |
Median house price |
NT |
Darwin |
Rosebery |
$528,020 |
WA |
Perth |
Henley Brook |
$577,080 |
VIC |
Melbourne |
Clyde North |
$589,725 |
WA |
Perth |
Jindalee |
$572,623 |
NT |
Darwin |
Farrar |
$513,736 |
WA |
Perth |
East Cannington |
$444,566 |
WA |
Perth |
Wandi |
$507,977 |
WA |
Perth |
Shoalwater |
$428,932 |
WA |
Perth |
Bentley |
$451,875 |
QLD |
Brisbane |
Bahrs Scrub |
$457,678 |
WA |
Perth |
Helena Valley |
$570,389 |
NT |
Darwin |
Howard Springs |
$599,621 |
WA |
Perth |
Munster |
$523,772 |
WA |
Perth |
Piara Waters |
$482,822 |
WA |
Perth |
Noranda |
$524,283
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